Kenya: CS Wandayi Says VAT Cut and Subsidy Stopped Fuel Prices From Reaching Ksh260

Energy Cabinet Secretary Opiyo Wandayi on Saturday, April 18, revealed that without government intervention, fuel would retail well over Ksh215 per litre.

Wandayi said the decision to lower VAT on petroleum products from 16 per cent to 13 per cent and later to 8 per cent was necessary to protect consumers from global price shocks.

He noted that the move, alongside other measures, came at a time when international oil markets were experiencing volatility driven by tensions in the Middle…